Mercer International (NASDAQ:MERC) Upgraded at StockNews.com

StockNews.com upgraded shares of Mercer International (NASDAQ:MERC) (TSE:MRI.U) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Several other equities analysts also recently weighed in on the company. Raymond James lifted their target price on Mercer International from $8.50 to $10.50 and gave the company a market perform rating in a research report on Friday, April 19th. Royal Bank of Canada decreased their price objective on Mercer International from $10.00 to $8.00 and set a sector perform rating on the stock in a research note on Monday, August 12th. Finally, CIBC cut their price objective on Mercer International from $10.00 to $8.50 and set a neutral rating for the company in a research note on Tuesday, August 13th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Mercer International has a consensus rating of Hold and a consensus price target of $9.25.

Mercer International Price Performance

NASDAQ MERC opened at $6.20 on Thursday. The company has a 50-day moving average price of $7.87 and a 200-day moving average price of $8.92. Mercer International has a 52 week low of $6.10 and a 52 week high of $11.20. The company has a quick ratio of 2.38, a current ratio of 3.74 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $414.47 million, a P/E ratio of -1.81 and a beta of 1.36.

Mercer International (NASDAQ:MERC) (TSE:MRI.U) last announced its earnings results on Thursday, August 8th. The basic materials company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.08). The business had revenue of $499.40 million for the quarter, compared to analysts’ expectations of $482.35 million. Mercer International had a negative net margin of 11.27% and a negative return on equity of 26.21%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted ($1.48) earnings per share. Equities research analysts anticipate that Mercer International will post -0.49 earnings per share for the current year.

Mercer International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Wednesday, September 25th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Wednesday, September 25th. Mercer International’s dividend payout ratio is currently -8.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MERC. SG Americas Securities LLC grew its holdings in Mercer International by 26.5% during the 1st quarter. SG Americas Securities LLC now owns 51,201 shares of the basic materials company’s stock valued at $509,000 after buying an additional 10,713 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Mercer International during the first quarter valued at $193,000. Finally, Everence Capital Management Inc. bought a new stake in Mercer International in the 1st quarter valued at $261,000. 85.79% of the stock is owned by hedge funds and other institutional investors.

Mercer International Company Profile

Mercer International Inc, together with its subsidiaries, manufactures and sells northern bleached softwood kraft (NBSK) and northern bleached hardwood kraft (NBHK) pulp worldwide. The company operates through two segments, Pulp and Solid Wood. It manufactures, sells, and distributes pulp, electricity, and chemicals through pulp mills.